Next Step After Paying Off Debt

[sickboy0122]

Hey everyone, I just joined and have lots of questions but wanted to start off with some simple ones first.

Im 28 and ordered my credit report online for all 3 reports as well as the scores too. To my surprise I noticed that not all of my debt was listed. I called one of the collection agencies from an old report that wasn't showing up on my new report and she informed me of the "Statue Of Limitations" which I thought was all BS when someone had told me about it before. Anyway, so Ive paid off all of my debt except for 2 medical bills that are scheduled to fall of June of 2010 (statue of limitations)

Im debating on paying them off, or riding it out till next year. My question is would you suggest paying them off instead or will this sort of thing actually affect my report when I decide to apply for credit cards or loans when the time is right? I was told that Student loans and Medical Bills are not really accounted for when applying for credit. Does that mean that as long as your making payments and they haven't gone to collections or if they have gone to collections? The steps that Ive taken as far as the other stuff that Ive paid off is: Ive disputed online for the things that are showing up still, but that have been paid, and Ive also sent letters to all 3 credit bureau's along with the payoff letters from the collectors asking to have these things removed from my credit report.

There was a total of 4 things that I paid off, my score was 582 across the board, will my score go up much after the 30-45 days after this stuff hits my report? What options will I have afterward?

Any suggestions would help a lot. Thanks in advance.
Sorry if this thread is long.

[chane]

Originally Posted by sickboy0122

Hey everyone, I just joined and have lots of questions but wanted to start off with some simple ones first.

Im 28 and ordered my credit report online for all 3 reports as well as the scores too. To my surprise I noticed that not all of my debt was listed. I called one of the collection agencies from an old report that wasn't showing up on my new report and she informed me of the "Statue Of Limitations" which I thought was all BS when someone had told me about it before. Anyway, so Ive paid off all of my debt except for 2 medical bills that are scheduled to fall of June of 2010 (statue of limitations)

Why would you want the collection agency to show up on your new report? If they are not showing up, leave them alone.

SOL has nothing to do with when a debt "falls off" your credit report. You're confusing SOL with the time limit the CRAs must remove an item from your report...2 completely different things.

Im debating on paying them off, or riding it out till next year. My question is would you suggest paying them off instead or will this sort of thing actually affect my report when I decide to apply for credit cards or loans when the time is right?

If you pay it off and they report it, yes it will stay on your credit report for 7 more years.

I was told that Student loans and Medical Bills are not really accounted for when applying for credit.

That's absolutely false. You were lied to. :D

Ive disputed online for the things that are showing up still, but that have been paid,

Never dispute online.

Ive also sent letters to all 3 credit bureau's along with the payoff letters from the collectors asking to have these things removed from my credit report.

You disputed online AND sent them letters? You're killing me, man. You need to keep reading the basics on this forum before taking any further action. You're doing this all wrong.

Also, NEVER send in pay off letters from collectors. That is a HUGE mistake. You are verifying that the accounts exist! AHHHHHHHHH, STOP!!!!

There was a total of 4 things that I paid off, my score was 582 across the board, will my score go up much after the 30-45 days after this stuff hits my report? What options will I have afterward?

Any suggestions would help a lot. Thanks in advance.
Sorry if this thread is long.

No, your scores will more than likely go down because you're not doing it right at all. I'm not trying to be a dick, but almost everything you've done is the opposite of what you should have done.

I could give you more detailed answers to your questions, but most of this has already been covered in the forum. I hope you will stop everything you're doing immediately and spend a few hours on this site reading. Hopefully it's not too late.

[sickboy0122]

Ive been going down the list on my credit report paying off things that were on there. The letters I sent out were to each of the 3 credit bureaus, BUT... I sent the letter asking them to remove the items that were showing up on that particular Bureau. So if it was 2 things for Transunion, i would only send what is already showing up on my report for them. Then for Equifax, I would do the same. I would print out the pages from the report, Circle the debt and send the letters from the collections agencies explaining that the debt has been satisfied in full. In the body of the letter I wrote, I also provided the account number for each of the DEBTS that showed up on that particular Bureau.

Im going to spend a good portion of today and read further on some of these posts and then hopfully I'll have a better insite as to what is going on and what will happen next.

Thanks for the reply.

[jjgross]

Originally Posted by sickboy0122

Ive been going down the list on my credit report paying off things that were on there. The letters I sent out were to each of the 3 credit bureaus, BUT... I sent the letter asking them to remove the items that were showing up on that particular Bureau. So if it was 2 things for Transunion, i would only send what is already showing up on my report for them. Then for Equifax, I would do the same. I would print out the pages from the report, Circle the debt and send the letters from the collections agencies explaining that the debt has been satisfied in full. In the body of the letter I wrote, I also provided the account number for each of the DEBTS that showed up on that particular Bureau.

Im going to spend a good portion of today and read further on some of these posts and then hopfully I'll have a better insite as to what is going on and what will happen next.

Thanks for the reply.

Stop doing what what your doing.read and read and ask more questions.Never send them anything because you just verify the debt and makes it harder to have it removed.:huh: